News Release

Oct. 22, 2018

JCR Affirmed A-/Negative and J-1 on Kobelco Construction Machinery

JCR Affirmed BBB+/Stable Long-term Issuer Rating on FUJI

JCR Affirmed A-/Stable, A-, Preliminary A-, and J-1 on JACCS

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL18-10 (F Hospital)

[ Asset Securitization Products ] JCR Affirmed J-1 on Medical Treatment Fees Receivable ABL Program (C Hospital)

[ Asset Securitization Products ] JCR Affirmed J-1 on Medical Treatment Fees Receivable ABL Program (G Hospital)

Oct. 19, 2018

JCR Assigned A- Rating to Bonds of NIPPON TOCHI-TATEMONO

JCR Assigned A Rating to Bonds of DAIBIRU

JCR Assigned A- Rating to Bonds of NIPRO

JCR Affirmed A/Stable and J-1 on PARCO

JCR Assigned A+ Rating to Bonds of Sumitomo Mitsui Trust Panasonic Finance

JCR Assigned A- Rating to Bonds of AEON Product Finance

JCR Assigned AAA Rating to Bonds of Japan Student Services

JCR Affirmed BBB+/Stable and J-2 on RESORTTRUST

JCR Affirmed A/Stable, A, and J-1 on SKY Perfect JSAT Holdings

JCR Affirmed AA-/Stable and A on T&D Holdings
JCR Affirmed AA-/Stable Long-term Issuer Rating and Ability to Pay Insurance Claims on Daido Life Insurance
JCR Affirmed AA-/Stable and A+ on Taiyo Life Insurance
JCR Affirmed AA-/Stable Long-term Issuer Rating and Ability to Pay Insurance Claims on T&D Financial Life Insurance

JCR Affirmed AAA/AAA (FC/LC) Ratings on France with Stable outlook

Oct. 18, 2018

JCR Assigned AA- Rating to Bonds of Tohoku Electric Power

JCR Assigned A Rating to Bonds of ANA HOLDINGS

JCR Affirmed A/Stable and J-1 on GUNZE

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL Program (R Hospital)

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Hyakugo Bank B Corporation Bills Receivable ABL18-10

Oct. 17, 2018

Revisions to Business Forecasts of ONE - JCR will Watch Impact on Business Results of 3 Major Shipping Companies with Severe Conditions

JCR Affirmed BBB Rating on Kawasaki Kisen; Revised Outlook from Stable to Negative

JCR Assigned AA- Rating to Bonds of Kyushu Electric Power

JCR Assigned AA+ Rating to Bonds of Electric Power Development

[ Asset Securitization Products ] JCR Affirmed J-1 on Medical Treatment Fees Receivable ABL Program (P Hospital)

Oct. 16, 2018

ZENSHO HOLDINGS To Acquire a U.S. Ready-Made Meal Supplier - No Impact on Rating but Future Investments to Be Closely Watched

JCR's Rating Review of Blast Furnace Steel Manufacturers

JCR Assigned A+ Rating to Bonds of Hulic

JCR Affirmed BBB+/Stable, BBB+ and J-2 on MEIDENSHA

JCR Affirmed J-2 Rating on CP of KOKUSAI PULP & PAPER

Oct. 15, 2018

2018-1

JCR Upgraded (FC/LC) Ratings on Russia from BB+ to BBB- with Stable outlook

JCR Affirmed A- Rating on Hoshino Resorts REIT; Revised Outlook from Stable to Positive

JCR Affirmed A/Stable Long-term Issuer Rating on Juroku Bank

Oct. 12, 2018

JCR Assigned Preliminary BBB Rating to Shelf Registration of JALUX

JCR Assigned A Rating to Bonds of TEPCO Power Grid

JCR Assigned A Rating to Bonds of KUREHA

JCR Affirmed AA+/Stable Long-term Issuer Rating on JAPAN POST HOLDINGS

JCR Affirmed AA/Stable Long-term Issur Rating and Ability to Pay Insurance Claims on JAPAN POST INSURANCE

JCR Assigned AA- Rating to Bonds of Mitsubishi UFJ Lease & Finance

JCR Assigned AA+ Rating to Bonds of NARITA INTERNATIONAL AIRPORT

JCR Assigned AAA Rating to Bonds of West Nippon Expressway

Oct. 11, 2018

Don Quijote Holdings' Conversion of UNY into Its Wholly-owned Subsidiary - Limited Impact on Rating through Financing by Issue of Equity Instruments that Controls Worsening of Financial Structure

JCR Assigned Preliminary A- Rating to Subordinated Bonds of Don Quijote Holdings

FamilyMart UNY Holdings' Transfer of Shares in UNY and Tender Offer for Shares in Don Quijote Holdings - No Immediate Impact on Rating, but JCR will Closely Watch Impact on Financial Structure

AEON KYUSHU Announced Integration of Management with Maxvalu Kyushu, etc. - No Immediate Impact on the Rating and JCR will Pay Attention to the Possible Effect by the Integration

JCR Affirmed AAAp/Stable Long-term Issuer Rating on East Japan Railway

JCR Affirmed AA+p/Stable Long-term Issuer Rating on West Japan Railway

Oct. 10, 2018

JCR Assigned Preliminary A+ Rating to Shelf Registration of Sumitomo Mitsui Trust Panasonic Finance

JCR Affirmed BBB+/Stable Long-term Issuer Rating on ASAHI PRINTING

Oct. 09, 2018

JCR Affirmed A, Preliminary A and J-1 on Denka; Revised Outlook from Stable to Positive

JCR Affirmed A-/Stable, A-, Preliminary A- and J-1 on Nankai Electric Railway

JCR Affirmed J-2 Rating on CP of DAIHO

Oct. 05, 2018

JCR Assigned Green 1 (preliminary) to the Bonds issued by Fuyo General Lease

JCR Assigned AA- Rating to Bonds of Kansai Electric Power

JCR Assigned AA+ Rating to Bonds of Electric Power Development

JCR Assigned AAA Rating to Bonds of Development Bank of Japan

JCR Assigned AAA Rating to Bonds of Metropolitan Expressway

JCR Assigned A to Bonds (Tier 2 with loss absorption clause) of Bank of Nagoya

JCR Assigned A+ Rating to Bonds of Tokyo Century Corporation

JCR Assigned A- Rating to Bonds of JACCS

JCR Assigned AA Rating to Bonds of Advance Residence Investment Corporation

JCR Affirmed A Rating on TAIKO BANK; Revised Outlook from Stable to Negative

Oct. 04, 2018

JCR Assigned A Rating to Bonds of Invincible Investment Corporation

Oct. 03, 2018

ZEST Investments B 1707-B01

JCR Assigned AA Rating to Bonds of Chugoku Electric Power

JCR Assigned Preliminary AA- Rating to Shelf Registration of Tohoku Electric Power

JCR Affirmed A/Stable, A, and Preliminary A on Kawasaki Heavy Industries

JCR Affirmed A-/Stable and BBB+ on Kita-Nippon Bank

JCR Affirmed AA-/Stable and J-1+ on Mitsubishi UFJ NICOS

JCR Affirmed AA-/Stable and AA- on Premier Investment Corporation

Oct. 02, 2018

JETS International Two Limited 84

JETS International Two Limited 78

JETS International Two Limited 76

JETS International Two Limited 74

JETS International Two Limited 71

JETS International Two Limited 62

JETS International Two Limited 61

JETS International Five Limited 240

JETS International Five Limited 144

JETS International Five Limited 125

Sylph Limited

Sylph Limited

Daishi Bank and Hokuetsu Bank Announced Their Business Integration - The Group's Management Strategy etc. to be Scrutinized and Reflected in Rating as Appropriate

JCR Upgraded Rating on SMBC Consumer Finance from A-/Positive to A/Stable

JCR Affirmed A and J-1 Ratings on ACOM; Revised Outlook from Stable to Positive

JCR Affirmed A-, A- and Preliminary A- on Nisshin OilliO Group; Revised outlook from Stable to Positive

JCR Assigned Preliminary AA Rating to Shelf Registration of Chubu Electric Power

JCR Affirmed A/Stable Long-term Issuer Rating on NISHIMATSUYA CHAIN

JCR Affirmed BBB+/Stable Long-term Issuer Rating on Gifu Shinkin Bank

JCR Affirmed J-1+ Rating on ABCP Program of Nexus Asset Funding

JCR Affirmed J-1+ Rating on ABCP Program of Vector Asset Funding

JCR Affirmed J-1+ Rating on ABCP Program of Godo Kaisha GK 48

Oct. 01, 2018

JCR Assigned BBB+/Stable Long-term Issuer Rating to Pacific Golf Management

JCR Assigned BBB/Stable Long-term Issuer Rating to SOGO MEDICAL HOLDINGS; Withdraws BBB/Stable on SOGO MEDICAL

JCR Assigned BBB+ to and Affirmed A- on EMTN of SBI SECURITIES; Increase in Maximum Amount of Program

JCR Affirmed BBB/Stable and J-2 on FURUKAWA

JCR Affirmed AA-/Stable and AA- on ORIX